Digital nomads, cyber risk insurance, and an ever-growing energy sector – these are the hottest topics in Montenegro right now, according to CMS Partner Milica Popovic.

Dentons has advised the PPF Group on its sale of mobile phone operator Telenor Montenegro to Hungarian technology company 4iG. Andric Law advised PPF on local Montenegrin law aspects. Kinstellar reportedly advised 4iG on the deal. 

Change is brewing in Montenegro. The country finds itself exposed to both unprecedented internal and external factors, turning the gears and taking Montenegro in an uncharted direction. The COVID-19 pandemic has, for the last eighteen months, been putting pressure on economies, health systems, and the people themselves, forcing humanity to combat a deadly adversary through measures unseen in modern history. Montenegro was no exception and had to adjust to the new situation adopting preventive measures in order to mitigate the negative effects of the pandemic. An external factor, the virus, was not the only thing that shook things up for the Montenegrin people. There has been a large upset in the political scene, with the parliamentary election being narrowly won by the opposition, removing the Democratic Party of Socialists from power. The new government is faced with many challenges, including continuing the development of the energy sector through innovative and appropriate legislative, regulatory, and strategic action.

Even with the political situation in the country being turbulent, Montenegro has a lot to look forward to, especially given the success of this year’s tourism season, according to Vujacic Law Partner Jelena Vujisic.

In “The Corner Office” we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. The question this time: “What did you most want to be when you were little?”

CMS' Malgorzata Surdek-Janicka has been appointed as Vice-President of the International Court of Arbitration at the International Chamber of Commerce in Paris. Aside from Surdek-Janicka, 33 lawyers from CEE were appointed as members and alternate members of the court.

Even though it’s been a year since its parliamentary elections, the outcome still seems to be the talk of the town and the biggest influence on business in Montenegro, according to Schoenherr Partner Slaven Moravcevic. 

Wolf Theiss and Spain's Uria Menendez have advised Spain's Glovo on its EUR 170 million acquisition of Delivery Hero's food delivery service businesses in Bulgaria, Romania, Serbia, Bosnia & Herzegovina, Montenegro, and Croatia. Cuatrecasas advised Delivery Hero.

Despite its diverse terrain and impassable regions, Montenegro has made remarkable progress in developing its infrastructure and transport network over the last couple of years.

Serbia's JPM Jankovic Popovic Mitic has entered into a special partnership with the Vukmirovic Misic law firm in Montenegro.

The Montenegrin Real Estate market hit a high in 2007 and has remained active since then.

A new law firm alliance has appeared in the countries of the former Yugoslavia.

The Law Office Vujacic has advised GE Capital Aviation Services on the sale of two Embraer 195 aircrafts to the Montenegro's ToMontenegro airline.

Akin Gump, Bogdanovic, Dolicki & Partneri, Maric & Co, Isailovic & Partners, Harrisons, Zdolsek Attorneys at Law, Boga & Associates, Popovski & Partners, and Forgo Damjanovic & Partners have advised Croatian conglomerate Fortenova Grupa d.d., on the EUR 615 million sale of its frozen food business to Nomad Foods. Norton Rose Fulbright, Lakatos, Koves & Partners, and five firms from the SEE Legal alliance advised Nomad Foods on the deal, which is expected to close in the third quarter of 2021.

In our legal work in Montenegro, CMS has been engaged in a number of major mergers & acquisitions, representing both buyers and sellers, including Monte Rock’s acquisition of HIT Montenegro in connection with the Hotel Maestral in Budva-Przno, the Delhaize Group’s acquisition of food retailer Delta Maxi, KKR’s acquisition of SBB/Telemach Group, and OTP Bank’s acquisition of Societe Generale Montenegro.

Former Karanovic & Partners attorneys Luka Prelevic, Stefan Lucic, and Djordje Kuzmanovic have opened PLK Advokati for business in Podgorica.

The economy of Montenegro was severely impacted by the breakup of Yugoslavia into its constituent parts. In order to jump start its economy, calculated and efficient measures had to be undertaken. One of these measures was selecting a stable foreign currency as its own: first the Deutschmark (which was used in parallel with the Yugoslav dinar from 1999 to 2000), then, later, the Euro. This paved the path for economic growth and the creation of an open market, more welcoming to investors.

"The most important development in Montenegro is the recent change in government,” says Marko Ivkovic, Senior Lawyer at the Prelevic Law Firm in Podgorica, referring to the August 2020 victory of opposition parties and the fall from power of the DPS party, which had ruled the country since the introduction of the multi-party system in 1990.